The Department of Local Government Finance (Department) estimates that no small businesses will be impacted by this rule. Under IC 6-1.1-4-42, the Department must adopt rules that establish uniform income capitalization tables and procedures to be used for the assessment of golf courses. IC 6-1.1-4-42 provides that the true tax value of real property regularly used as a golf course is the valuation determined by applying the income capitalization appraisal approach. The purpose of this rule is simply to provide a uniform and standard method for assessing property used as a golf course. The rule itself is "business neutral" in that it should have no direct or indirect effect on business.

Estimated Average Annual Administrative Costs That Small Businesses Will Incur:

The Department estimates that no small businesses will incur additional administrative expenses resulting from this rule because no additional reporting or filing requirements will be added by the rule. Golf course owners are required to prepare financial statements as part of their income tax filings or other business purposes, or both. Because these statements or tax filings will have already been prepared in advance, golf course owners will simply forward these statements or filings to the assessing officials.

Estimated Total Annual Economic Impact on Small Businesses:

The Department estimates that there will be no financial impact on small businesses as a result of this rule. Small businesses will have no additional responsibilities associated with this rule. The Department expects that golf course owners, having already prepared financial statements for purposes of business or filing income tax returns, will submit such statements to assessing officials, at little or no cost to themselves.

• Supporting Data, Studies, and Analyses: Because no financial impact is expected as a result of this rule, no supporting data, studies, or analyses were relied upon by the agency in its determination.

Justification of Requirement or Cost:

IC 6-1.1-4-42 requires the Department to adopt rules that establish uniform income capitalization tables and procedures to be used for the assessment of golf courses.

Regulatory Flexibility Analysis of Alternative Methods:

The purpose of the rule is simply to provide a uniform and standard method for assessing property used as a golf course. Thus, the Department did not conduct a regulatory flexibility analysis of alternative methods. Additionally, because no financial impact is expected as a result of compliance with this rule, neither less stringent nor more simplified requirements are necessary for this rule.

• Supporting Data, Studies, and Analyses: Because of the nature of the rule, no supporting data, studies, or analyses were conducted.